Redding Ridge Asset Management

About

Redding Ridge’s primary business consists of acting as collateral manager for CLO transactions and related warehouse facilities and as holder of CLO Retention interests in both U.S. and Europe.

Strategically positioned with access to significant CLO management and structuring expertise, industry contacts and investor relationships. Supported by top tier credit research, credit risk management, credit trading platform and other corporate / administrative services through various service contracts.

We are situated to maximize the CLO arbitrage opportunity with permanent capital affording Redding Ridge the ability to remain patient and tactical.

Redding Ridge was established and seeded by Apollo Global Management in response to risk retention regulations.

clo management philosophy

Redding Ridge has a strong focus on execution and structuring in addition to consistent portfolio management. We believe this generates the best performance for all investors.

Venn diagram depicting CLO Management Philosophy

Consistent Portfolio Management: Maintain a disciplined investing approach through all markets. We invest on a bottom-up basis, allowing us to build a portfolio of investments in which we have a deep understanding of each individual name.

Execution: Strategic and selective on timing when ramping assets and issuing a deal, aiming to create attractive investment vehicles.

Structuring: Each deal is structured to fit our credit investment style.

Redding Ridge has a strong focus on execution and structuring in addition to portfolio management. We believe this generates the best performance for all investors.

Market Accessibility and Experience

Redding Ridge Asset Management has been formed with key features allowing for successful execution and management of CLOs:

Warehousing

Long-tenor warehousing

Access

Significant access to assets, deal flow, management teams, industry insights and the investment banking community

Experience

CLO Management Experience with a dedicated team of professionals with an average of 15 years of experience in leveraged loans and CLOs

Systems

Access to systems supporting trading & operations, as well as monitoring of CLO compliance tests

Redding Ridge has entered into contracts with Apollo Global Management to provide:

Administrative Services Agreement

Apollo Global Management provides corporate and operational services to Redding Ridge, including human resources, trade operations/settlements, administration, vendor contracts and information technology

Employee Sharing Agreement

Employee arrangements with Apollo Global Management pursuant to which certain key U.S. and European credit professionals are shared

Credit Research Services Agreement

Apollo provides both initial and ongoing credit research and analytics for Collateral Obligations being considered for or held by CLOs managed by Redding Ridge

Our People

Dedicated Employees

Stephen M. Riddell, CFA – Chief Investment Officer

Stephen Riddell joined Redding Ridge following his tenure as Senior Portfolio Manager at Capitala Group. From 2011-2014, Mr. Riddell served as a Managing Director and Portfolio Manager in the Performing Credit group at Apollo Global Management. Prior to joining Apollo, Mr. Riddell was a founding partner of Gulf Stream Asset Management. Mr. Riddell led the capital formation and portfolio management efforts as well as the structuring and execution of many of Gulf Stream’s credit funds. Mr. Riddell worked in leveraged finance and loan syndications with First Union Securities Inc. (now Wachovia Securities) and Chase Securities Inc. early in his career. Mr. Riddell graduated magna cum laude from Furman University with a B.A. degree in Economics and received his M.B.A. from Vanderbilt University.

Albert Huntington – Head of Capital Markets and Banking

Mr. Huntington joined Redding Ridge as Head of Capital Markets and Banking and a Managing Director. Prior to Redding Ridge, Albert joined Apollo’s Corporate Structured Credit Group in 2014. Mr. Huntington was also a Director in the CLO Structuring & Origination Group at Bank of America Merrill Lynch. He has structured over $25 Billion of CLOs, CLO refinancings and CLO repackaging across over 50 transactions. His innovations on CLO structures include the CLO 2.0 X-note (the first solution to address the LIBOR basis mismatch during long first periods) and the CLO “Reset” (the amendment and extension refinancing of a CLO). Albert graduated from The University of Virginia with a B.S. in Chemical Engineering and received his M.B.A from The College of William & Mary, where he graduated Beta Gamma Sigma.

Priya Kothary – Head of Business Development

Ms. Kothary joined Redding Ridge as Head of Business Development and a Managing Director. Prior to Redding Ridge, she joined Apollo in 2013 serving as Director of Investor Relations for the Performing Credit and Structured Credit businesses. Prior to that time, Ms. Kothary was a member of the Structured Products Group at GoldenTree Asset Management. Ms. Kothary graduated from The University of Michigan with a B.A. in Mathematics and Economics and received her M.B.A. from Columbia University.

Shared Employees

Bret Leas – Managing Director

Mr. Leas serves as a Managing Director and member of the Board of Directors of Redding Ridge. Mr. Leas joined Apollo in 2009 and concurrently serves as senior portfolio manager and global co-head of Apollo’s Corporate Structured Credit Group. Prior to joining Apollo, Mr. Leas was a Director in the Credit Structuring Group at Barclays Capital with primary responsibility for the loan structuring and advisory team. At Barclays Capital he developed their market value and TRS CLO programs as well as their ABS CDO commercial paper program. From 2000-2004, he was an associate at Weil, Gotshal & Manges LLP, primarily focusing on asset-backed securities, CDOs and credit derivatives. Mr. Leas is a member of the Board of Directors of the Make-A-Wish Foundation of Metro New York and Western New York. Mr. Leas graduated cum laude from the University of Maryland with a B.A. in History and received his J.D., cum laude, from Georgetown University Law Center.

Joseph A. Moroney – Managing Director

Mr. Moroney serves as a Managing Director of Redding Ridge. Mr. Moroney joined Apollo in 2008 and concurrently serves as the Senior Portfolio Manager and Group Head for Apollo’s Performing Credit Group. Prior to joining Apollo, Mr. Moroney was with Aladdin Capital Management where he served as the Senior Managing Director and Senior Portfolio Manager in its Leveraged Loan Group. Mr. Moroney's investment management career spans over 20 years, with experience at various leading financial services firms including Merrill Lynch Investment Managers and MetLife. Mr. Moroney graduated from Rutgers University with a BS in Ceramic Engineering and serves as a member of the Board of Overseers of the Rutgers Foundation. He is a Chartered Financial Analyst and a member of the NYSSA.

Jim Galowski

Mr. Galowski serves as a member of the Board of Directors of Redding Ridge. He joined Apollo in 2012 and concurrently serves as the senior portfolio manager based in London and co-head of Apollo’s Corporate Structured Credit Group. Prior to joining Apollo, Mr. Galowski spent six years at Stone Tower Capital where he was a Partner and responsible for overseeing all investment activities in structured credit. He has over thirty years of experience in the financial services industry. Previous to Stone Tower, Mr. Galowski spent 15 years with WestLB and its subsidiaries in New York, London and Singapore. He was a Managing Director and served on the Board and Executive Committee of WestLB Asset Management (U.S.) LLC. In Singapore, Mr. Galowski was initially the Regional Treasurer and ultimately assumed responsibility for the bank’s Financial Markets activities in the APAC region overseeing the bank's Rates, Derivatives and Capital Markets operations with trading rooms in Hong Kong, Singapore, Tokyo, Sydney and Shanghai. While in London, Mr. Galowski focused on the re-organization of the bank's European Treasury operations and served as the Group Treasurer of the Thomas Cook Group. While in New York, Mr. Galowski was responsible for WestLB's Asset Liability management of the bank's North American balance sheet. Prior to WestLB, Mr. Galowski spent five years with the Canadian Imperial Bank of Commerce in both New York and Toronto trading interest rate products. Mr. Galowski is a member of the Board of Directors of Apollo Residential Mortgage, Inc., a publicly traded mortgage real estate investment trust (REIT), managed by an Apollo Management affiliate as well as the Co-Portfolio Manager of the Apollo Structured Credit Recovery Funds. Mr. Galowski holds a B.S. in Finance from St. John's University and an M.B.A. from Fordham University's School of Business.

Nicola Montagna

Ms. Montagna joined Apollo in 2015 in the Corporate Structured Credit Group and is responsible for CLO structuring and investment analysis. Prior to that time, Ms. Montagna was an intern in the Structured Credit Group at Apollo in summer 2014. Ms. Montagna graduated with distinction from the Stephen M. Ross School of Business at the University of Michigan with a BBA in Finance.

Michael Paniwozik

Mike Paniwozik is a member of the Structured Credit Investment Committee of Redding Ridge and concurrently serves as a managing director in Apollo’s Corporate Structured Credit Group. Mr. Paniwozik joined Apollo from Napier Park Global Capital where he was a managing director and the Senior Product Strategist for U.S. Corporate Credit. Previously, Mr. Paniwozik was a senior member of the Credit Structuring Group at BNP responsible for U.S. CLO structuring and origination. From 2008 to 2013, Mr. Paniwozik was a managing director at Stifel where he served as a senior advisor to the United States Department of Treasury on over $100 billion in TARP investments and implemented disposition solutions on over $10 billion of failed bank assets for the FDIC’s Division of Receipt and Receivership. From 2003-2008, Mr. Paniwozik was the structured credit portfolio manager at DiMaio Ahmad Capital and its predecessor Credit Suisse Alternative Investments. Mr. Paniwozik began his career in credit structuring at Credit Suisse First Boston. Mr. Paniwozik received a B.A. in economics, with honors, from the University of Chicago.

James Vanek

Mr. Vanek is a portfolio manager within the Performing Credit Group at Apollo. Since joining the firm, Mr. Vanek has been responsible for trading leveraged loan assets for all funds involved in the product at Apollo. Prior to joining Apollo in 2008, Mr. Vanek was with Bear Stearns where he was a Vice President in the Leveraged Finance group with primary responsibility for trading bank loans for that firm’s loan trading desk and on behalf of the portfolio group. Previously, Mr. Vanek worked at Thomas Weisel in investment banking. Mr. Vanek graduated from Duke University with a BS in Economics and a BA in Computer Science, and holds an MBA from the Graduate School of Business at Columbia University.

Steve Baker

Mr. Baker joined Apollo in January 2013. He is a Managing Director in the Corporate Structured Credit Group primarily focused on investing in CLOs, capital relief transactions and other structured credit products. In addition, he is involved in CLO issuances and financing arrangements for Apollo's European Credit Business. Mr. Baker has been a banking structured credit professional for more than 20 years; his prior positions included a Technical Specialist position at the UK FSA (where he represented the UK at the EBA Securitisation Subgroup) and Head of Structured Finance Solutions for EMEA and Americas for Standard Chartered Bank. Before London, Mr. Baker was in New York for over 12 years where he co-managed Lehman Brothers' CLO Banking Group as well as held positions with Natixis and CIBC in banking and structured finance. Mr. Baker holds a BASc with first class honours in Computer Engineering from the University of Waterloo, an MBA from the Ivey Business School at Western University, and is a CFA charter holder.

Alan Kelly

Mr. Kelly joined Apollo in 2012. Prior to joining Apollo, Mr. Kelly was responsible for seeking investment opportunities and marketing Stone Tower Capital's services in Europe. Previously Mr. Kelly spent ten years as a Senior Portfolio Manager with LBBW in its Irish Asset Management subsidiary managing CDO, CLO and ABS portfolios. Mr Kelly was also responsible for structuring off balance sheet vehicles on behalf of LBBW Ireland. Prior to joining the credit team in LBBW Ireland, Mr Kelly spent five years as an interest rate trader. Mr Kelly holds a B. Comm degree and an MBS in Financial Services from University College Dublin.

Dan Robinson

Mr. Robinson joined Apollo in 2015 and heads Apollo’s European Performing Credit business. He is the Portfolio Manager on selected European Performing Credit funds, including Apollo’s three European CLOs. From 2003 – 2015 Mr. Robinson was a Managing Director at Oaktree Capital Management LLP where he led the development of their European CLO business along with responsibilities for investment analysis and trading within their Global and European High Yield bond funds and European Leveraged Loan funds. From 1999 – 2003 Mr. Robinson served as an Associate at KPMG Corporate Restructuring where he became an ACA charter holder. Mr. Robinson graduated from Edinburgh University with an MA (Hons) in Politics.

Joseph Glatt – Chief Legal Officer

Mr. Glatt is the Chief Legal Officer of the Management Company. He joined Apollo in 2007 and concurrently serves as General Counsel for Apollo Credit. Prior to that time, Mr. Glatt was associated with the law firms of Simpson Thacher & Bartlett LLP from 1998 to 2003 and Schulte Roth & Zabel LLP from 2003 to 2007, in each case, primarily focusing on mergers and acquisitions, leveraged buyouts and capital markets activities. Mr. Glatt serves on the Board of Trustees for FamilyConnections, a community based counseling and family service agency, and also serves on the Board of Advisors for the Institute of Law and Economics, a joint research center of the Law School, Wharton and the Department of Economics at the University of Pennsylvania. Mr. Glatt received his J.D. from University of Pennsylvania Law School and graduated Phi Beta Kappa summa cum laude from Rutgers College with a B.A. in Political Science, Psychology and Hebraic Studies.

Cindy Michel – Chief Compliance Officer

Ms. Michel is the Chief Compliance Officer of the Management Company. She joined Apollo in 2007 and concurrently serves as Chief Compliance Officer for Apollo Global Management. Prior to joining Apollo, Ms. Michel worked as a securities attorney at the law firm of DLA Piper LLP for approximately three years. In her role at DLA Piper LLP, Ms. Michel provided legal counsel in connection with sales of securities in public and private offerings, M&A transactions and SEC filings. Ms. Michel also collectively spent four years as a compliance officer at Lehman Brothers Inc. and Credit Suisse (USA) LLC. Ms. Michel graduated from Columbia University with an A.B. in English and Economics and holds a J.D. from Boston University School of Law.

Jillian Lutzy Regan – UK Compliance

Mrs. Lutzy Regan joined Apollo in 2013. Previously she was a member of the Capital Markets & Securities group of the London office of Paul, Weiss, Rifkind, Wharton, and Garrison and prior to that was a member of the Corporate and Securities group of Jones Day in New York. Mrs. Lutzy Regan graduated from the University of Michigan with a B.B.A. majoring in accounting and graduated from Harvard Law School with a J.D.

Andria Trinidad – Chief Financial Officer

Ms. Trinidad is the Chief Financial Officer of the Management Company. She joined Apollo in 2011 and concurrently serves as Controller for Apollo’s Performing Credit business. She is responsible for accounting and financial reporting for all U.S. and European CLOs. Prior to joining Apollo, Ms. Trinidad was responsible for credit funds and CLOs within the Global Market Strategies of The Carlyle Group. Ms. Trinidad started her career in public accounting within the Investment Management Services practice at PricewaterhouseCoopers, specializing in alternative investments, including CLOs and hedge funds. Ms. Trinidad graduated cum laude from Rutgers University with a B.S. in Accounting.

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Redding Ridge Asset Management
126 East 56th Street / 25th Floor / New York, NY 10022
Phone: 877 CLO RRAM / Email: info@rram.com